Global wind and solar company Mainstream Renewable Power signed an agreement with Swiss wind farm developer NEK Umwelttechnik to purchase the 225 MW Ayitepa Wind Farm, located 25 miles from Accra on the east coast of Ghana.
The wind power project, which represents a total investment of $525 million, is expected to reach financial close next year and start generating power early in 2016.
The companies will co-develop the wind farm until financial close. Mainstream will manage the construction as well as the operations and maintenance of the wind farm for its lifecycle. The project is currently in the latter stages of development with all major permits secured. Grid and offtake agreements are being finalized.
When fully operational the wind farm will generate about 10 percent of Ghana's total electricity generation capacity that currently stands at 2,000 MW.
The government of Ghana has more than two years of wind energy data along the southeastern corridor of the country where wind energy prospects are some of the best in the country.